The domestic industry is defying the crisis mood with “good news”: AMAG has now announced that after three quarters it has increased its operating profit to an all-time high – to 217.4 million euros. After-tax profits also nearly doubled. Voestalpine only announced on Monday that the profit for the 2022/2023 financial year would be higher than initially thought.
The increased energy costs mainly affect industrial companies and all other companies – nevertheless it is not only Voestalpine that is able to deliver top results. While the steel group from Linz (Upper Austria) only announced on Monday that profits for 2022/23 would be higher than originally planned, AMAG is now also showing that it is going well so far.
The aluminum producer from Ranshofen (Upper Austria) achieved an increase in turnover and profit in the first three quarters compared to last year. “Despite numerous challenges, we managed to achieve the best operating result in the company’s history,” says CEO Gerald Mayer, happily emphasizing in the same breath: “However, further business development is characterized by uncertainties.”
After-tax income nearly doubles
While AMAG’s turnover rose to 1.353 billion euros in the period from January to September, its after-tax profits also improved enormously: compared to the first three quarters of the previous year, it almost doubled – to 106.7 million euros.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
